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Belarus hits EU with tit-for-tat sanctions
Belarusian police introduce colour-coded torture system for detained protesters
Kremlin publicly condemns Belarusian police brutality in hint of growing frustration with Lukashenko
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FPRI BMB Russia: Sberbank releases a three-year transformation strategy to e-commerce concern
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FPRI BMB Ukraine: Public has confused opinions on resolving the Donbas conflict
Western Balkans plus Ukraine subsidised coal with over €900mn in 2018-2019
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Economic sentiment in CEE falls in November as recovery momentum splutters
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Brighter days ahead: The economic bounce back in 2021
Central, Southeast Europe stock markets jump in anticipation of COVID-free future
VISEGRAD BLOG: An easing of trade tensions but still an uncertain situation for export-oriented Central Europe
Hungary's PM risks isolation as Poland mulls dropping EU budget veto
Poland ready to back down from veto of EU budget
Hungary's ruling party in damage control mode after MEP sex scandal bombshell
Poland’s PMI remains stuck just above the improvement line at 50.8 in November
Czech companies dominate this year’s Deloitte Technology Fast 50 CE
Coronacrisis to get worse before it gets better forecasts wiiw
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EU ministers fail to agree on launch of accession talks with Albania and North Macedonia
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Southeast Europe’s EU members to get biggest boost from next budget and recovery funds
Bulgaria imposes 3-week lockdown to slow down COVID-19 spread
CEE politicians highlight trade and security ties as they congratulate Biden
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Moldova’s presidential election is over, now the battle for the parliament begins
Moldova’s foreign policy reset
Russian establishment quick to congratulate Moldova's new president-elect
Rising COVID-19 cases put intense pressure on CEE healthcare systems
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Aegon to sell its CEE business to Vienna Insurance for €830mn
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Slovenian PM Jansa stands alongside Hungary and Poland in EU rule of law row
BEYOND THE BOSPORUS: Turkish number crunchers deliver November inflation surprise of 14%
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Ukraine strikes deal with Turkey to produce killer drones instrumental in Karabakh conflict
In Karabakh deal, as many questions as answers
Protesters flood Yerevan demanding Armenia’s “traitor” PM quit over Nagorno-Karabakh surrender
Who emerge as the real winners from the bloody Nagorno-Karabakh conflict?
Below average 2020 wine production destined for volatile and uncertain global market
Iran calls on Saudis to limit $67bn defence spending to Tehran’s $10bn
Iranian prosecutors pledge to pursue Trump for Soleimani killing even after he leaves White House
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UK court freezes $5bn in assets connected to fugitive Kazakh banker Ablyazov
Attack of the Debt Tsunami: global debt soars to a new all-time high
Kyrgyzstan's proposed new constitution provokes widespread revulsion
Kyrgyzstan's China debt: Between crowdfunding and austerity
CFC joins RWC in assessing KAZ Minerals buyout offer as under-valuation
China business briefing: Not happy with Kyrgyzstan
Mongolian coal exports to China paralysed as Beijing demands virus testing of truck drivers
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Mongolia in lockdown after suffering first local coronavirus transmissions
Mongolia’s wrestling culture: From the grasslands to the cage
No surprises in Tajikistan as Rahmon retains presidency with 91% of vote
A Tajikistan poised on verge of economic calamity set for vote
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Turkmenistan: The dammed united
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Canadian toymaker Spin Master has entered into an agreement to acquire Rubik's Brand Ltd, owner of the iconic Rubik's Cube invented by Hungarian architect-designer Erno Rubik in 1975 and brought to the market five years later.
The Canadian company is paying $50mn to Rubik's Brand Limited, a London-based company owned by David Lytton Kremer, the son of Tom Kremer, who has interests in several other toy companies.
Tom Kremer, 90, a games designer, entrepreneur and publisher, met Rubik in 1979 and worked with him to popularise the game on a global scale. To date, over 350mn Rubik's Cubes have been sold, making it one of the best-selling toys of all time.
Users can twist and turn the cube and the goal is to return to its every side having one solid colour. The original 3x3 cube offers 3 quintillion possible moves. The STEM-accredited puzzle supports brain development and cognitive skills
"The Rubik’s Cube is an iconic puzzle that has permeated pop culture and captivated fans for more than 40 years," Spin Master vice-president Elizabeth LoVecchio said in a statement.
Founded in 1994, the Canadian company is one of the largest players in the gaming industry. It generated $1.58bn in revenue last year. The latest transaction marks the company’s 22nd acquisition since its foundation and 12th since its IPO in 2015. The transaction is expected to close on January 4, 2021.
Erno Rubik said in the statement that he’s excited that Spin Master will "fulfill my vision of nurturing smarter, future generations through play."
It is not yet known to what extent the 76-year-old Hungarian inventor will benefit from the transaction.
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